Firestone Adopts Semi-Annual Financial Reporting

Rhea-AI Summary

Firestone Ventures (FSVEF) has elected to adopt semi-annual financial reporting under Coordinated Blanket Order 51-933, a pilot project of the Ontario Securities Commission for certain venture issuers. Under this election, Firestone will not file interim financial reports or MD&A for its first and third fiscal quarters.

The company will continue to file audited annual financial statements within 120 days of its March 31 year-end and six-month interim reports within 60 days of September 30. Firestone confirms it qualifies for the SAR pilot as a venture issuer with under $10 million in annual revenue and a compliant disclosure record, with the change effective for the quarter ended June 30, 2026. Firestone is a mineral exploration company currently being revitalized to pursue a carbon storage venture.

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Toronto, Ontario--(Newsfile Corp. - August 6, 2026) - Firestone Ventures Inc. (TSXV: FV.H) (FSE: F5V1) ("Firestone " or the "Company") announces that it has elected to move to semi-annual financial reporting ("SAR") pursuant to Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for certain Venture Issuers made by the Ontario Securities Commission (the "Blanket Order"). On a pilot project basis, the Blanket Order exempts eligible venture issuers, on a voluntary basis, from the requirement to file an interim financial report and related Management's Discussion & Analysis ("MD&A") for each of the first quarter and third quarter periods of a financial year. Accordingly, the Company will not file an interim financial report or a MD&A for the first quarter ending June 30 and the third quarter ending December 31, the Company's fiscal year end being on March 31. The Company will continue to file audited financial statements (due within 120 days of March 31) and six-month interim financial reports (due within 60 days of September 30). The Company confirms that it meets all eligibility criteria of the SAR pilot project as it is a venture issuer having annual revenues of less than $10 million, having a disclosure record of over 12 months, and having filed all required periodic and timely continuous disclosure documents. The first period for which the Company will not file an interim financial report and related MD&A will be for the three-month period ended June 30, 2026.

About Firestone

Firestone is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests. After many years of examining potential projects, the Company is being revitalized to pursue an exciting venture in carbon storage.

The Company website www.firestoneventures.com is currently under construction. Historical information on Firestone is available at www.sedarplus.ca.

For further information, please contact:

Donna McLean CFO Firestone Ventures Inc. (416) 583-1430 donna@firestoneventures.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes Firestone's objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Firestone, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Firestone; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company's public documents filed on SEDAR+. Firestone cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308496

FAQ

What change did Firestone Ventures (FSVEF) announce regarding its financial reporting on August 6, 2026?

Firestone announced it is moving to semi-annual financial reporting under the SAR pilot project. According to Firestone, it will no longer file interim financial reports and MD&A for its first and third fiscal quarters but will continue annual and six‑month reporting.

How will semi-annual reporting affect Firestone Ventures (FSVEF) quarterly filings?

Firestone will not file interim financial reports or MD&A for its first and third quarters. According to Firestone, this covers quarters ending June 30 and December 31, while audited annual statements and six‑month interim reports will still be filed within existing deadlines.

From which period will Firestone Ventures (FSVEF) stop filing quarterly interim reports?

The first period without an interim financial report and MD&A will be the three‑month period ended June 30, 2026. According to Firestone, this is when its participation in the semi‑annual reporting pilot first takes effect for investors and regulators.

Why is Firestone Ventures (FSVEF) eligible for the SAR semi-annual reporting pilot?

Firestone states it meets all SAR eligibility criteria as a qualifying venture issuer. According to Firestone, it has annual revenues under $10 million, more than 12 months of disclosure history, and has filed all required periodic and continuous disclosure documents on time.

What financial statements will Firestone Ventures (FSVEF) continue to file under semi-annual reporting?

Firestone will continue to file audited annual financial statements and six‑month interim reports. According to Firestone, annual statements are due within 120 days of March 31, and six‑month interim financial reports are due within 60 days of September 30 each year.

What is the business focus of Firestone Ventures (FSVEF) after adopting semi-annual reporting?

Firestone describes itself as a mineral exploration company focused on mineral property interests. According to Firestone, after years evaluating projects, the company is being revitalized to pursue a new venture in carbon storage, while maintaining its exploration orientation.